How to Franchise Your Business

Selling Your System

Selling Your System
Once you have the basics in place, it's time to take your concept to the franchise marketplace. A compelling franchise offering will be able to inspire and excite your target audience.

At a minimum, you will want to be sure that you are trained in all aspects of franchise sales--including the legal regulations governing these sales--before you start selling franchises. And while owner/founders surely have the passion and history to be effective franchise salespersons, the actual selling activities may be better delegated to someone with a full understanding of what can--and cannot--be mentioned in the sales process. Selling a franchise is not unlike selling a financial security, and the rules are strict and unforgiving. Don't risk being charged with violations that have to be disclosed to all future prospects.

There are alternatives to selling franchises yourself. Some franchise companies use the services of outsourced franchise sales professionals. Others hire franchise sales talent and put them on staff. Either way, the savvy franchisor considers the implications of their sales and staffing decisions before they finalize them.

When you decide to franchise, you will soon realize that you have added a second career to your current one. You are now not only a restaurateur, or a remodeler, or a retailer; you are now also a franchise executive, and you have a whole new job description. As you develop a franchise network, you take on the responsibility for the care and feeding of your franchisees. They are entitled to your guidance, training, encouragement and a raft of services including things like ongoing advertising support, access to approved suppliers with purchasing discounts, and a variety of back room services.

Franchising isn't for the faint of heart, but for confident, knowledgeable business owners who passionately believe in their concepts and who want to show others how to duplicate their success, it is a strategy that has been effectively employed for many decades. Virtually every franchise system started with just one store or shop. Through dedication, perseverance, and professional guidance, many have grown to 10, 100, and 1,000 units--and more. Will you decide to follow their example?

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Mark Siebert is the CEO of the iFranchise Group, a franchise consulting firm that has worked with 98 of the nation's top 200 franchisors. He can be reached at 708-957-2300 or at info@ifranchise.net.
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